Jan 28, 2013 8:00am PST
in spending cuts we can't lose those spending cuts. that was to pay for the last debt ceiling increase let alone any future increases. >> reporter: one of the nation's largest federal contractors, general dynamics based in fall's church, virginia, announced a $2 billion loss which it is blaming on defense cuts and falling government demand. >> draconian measures will have to be taken, furloughs, layoffs in the defense industry but most importantly to me, a devastating blow to our national security if the sequestration takes place. and it is up to congress and the president to act together and frankly so far i have not seen the kind of urgency that many of us feel about sequestration and, its implementation report so it seems with the war being wound down in afghanistan, the real fight begins at home for tighter bum jets. jamie? jamie: those civilians play an important role. thanks. jon: take a look at this. a brush with death for a guy on a motorcycle, when a big-rig truck flips over and nearly crushes him. jamie: whoa. jon: yeah, that amazing video, where it happened. we'll tell you about
Jan 28, 2013 5:00pm EST
, the largest in u.s. history, or if you can use the debt ceiling, which you cannot in the end pull the trigger on, because even though you could probably go without technical default for months and months, it would be catastrophic. it would mean you'd have to cut spending by 40% overnight which you can't do. so unless you can execute the bluff, don't do it because obama will call it, as he called it on january 1 of this year, as he would with the debt ceiling. don't -- if you can't carry out the bluff. i hope you weren't plauding carrying out the bluff, in which case my entire argument is undermined and has gone nowhere. >> i think that's a small contingent against suicidal charges. >> and they are on suicide watch. i hope their shoelaces have been removed. [laughter] >> so you do what i think the house members and their retreat in williamsburg very cleverly did. you pick your fights and don't try to govern from one house to get very small advances. i thought i recommended last week that in return for a temporary debt ceiling hike of three months, they demand that the senate produce a budget.